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Seadrill Beats on Q1 Revenue and EPS, Raises Dividend

The company's earnings dip slightly, but are robust enough to power past analyst projections.

Results for Seadrill's (NYSE:SDRL) first quarter show operating revenue totaled $1.27 billion, up from $1.05 billion in the same period the previous year. Attributable net profit over that time frame dipped slightly, coming in at $409 million ($0.85 per diluted share) from Q1 2012's $416 million ($0.87).

In a press release, Seadrill said it had recorded its best operating quarterly results ever. The most recent quarter's numbers were well above analyst expectations, which were for $1.14 billion in revenue and EPS of $0.58.

On the back of the strong quarterly results, the firm raised its quarterly dividend by $0.03 per share, which works out to a 3.5% increase. It will pay $0.88 per share on or about June 20 to stockholders of record as of June 7.

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Eric has been writing about stocks and finance since the mid-1990s, when he lived in Prague, Czech Republic. Over the course of a varied career, he has also been a radio newscaster, an investment banker, and a bass player in a selection of rock and roll bands. A native New Yorker, he currently lives in Los Angeles.